If You Plan to Get Old

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If you plan to get old, I hope you have socked away plenty of money to put you up in a fancy old-age home like my mother-in-law did. She’s in one of those extended care places where you go to an apartment when you are still pretty-much able to care for yourself, and as you deteriorate they take care of you until you die. He third husband, whom she married when they were both in their 80s, died of a stroke a couple of years ago. With her health declining, she decided it was time to move out of her home and go where there were people to take care of her. Between her pension from being a teacher, and the money her husbands have left her, she will never need anything from us, and that’s the way she wants it. She lives on the other side of the country, so we rarely see her. My mom is a different story. She became a widow at the age of 27, and never remarried. She never saved any money. She is completely dependent on Social Security. She lives in a cottage on our property, and I will take care of her until she dies, or goes to a nursing home. Do you think you have save enough for your old age?